BI Fast Participants Increase, Cheap Transfer Fees Now Expand in 106 Banks

Ilustrasi (Foto: Dok. Antara)

JAKARTA – Bank Indonesia (BI) said that starting earlier this week the number of BI Fast participants had increased by 29 banks.

Head of the BI Communication Department Erwin Haryono said that since its launch on December 21 2021, the total number of BI Fast participants has now become 106 participants.

"This number represents 87 percent of the share of the national retail payment system," he said in an official statement on Monday, November 28.

According to Erwin, the addition is the fifth batch of membership.

He also said that the stages of implementing BI Fast by banks to customers were adjusted to the bank's strategy and plans in preparing its payment channel.

"The ongoing expansion of BI Fast membership is expected to meet the needs of the public, including BI stakeholders, for Cemumuah (Fast, Easy, Cheap, Safe, Reliable) retail payment system services," he said.

Erwin added, in this fifth batch of participants, 12 Regional Development Banks (BPD), both conventional, sharia and Sharia Business Units were joined as participants.

He said, the joining of the 12 BPDs is expected to provide wider opportunities for the community, especially in each region, to take advantage of BI FAST services.

"In addition, in order to streamline the provision of infrastructure, 16 of the 29 banks participating in the fifth batch utilize multitenancy infrastructure (multi banks one connector)," he said.

For information, BI Fast is a payment system infrastructure provided by BI with one of the advantages of a cheap transfer fee of IDR 2,500.

In addition, this facility from the central bank can be accessed through an application provided by the payment system industry to facilitate retail payment transactions for the public.

"The BI Fast service is a form of BI's commitment with the payment system industry in encouraging the acceleration of the digitalization of the national economy and finance," concluded Erwin.

The following is a list of 29 banks included in the fifth batch of BI Fast:

1. Standard Chartered Bank

2. MUFG Bank

3. BPD Jambi

4. BPD Jambi UUS

5. BPD South Sulawesi and West Sulawesi

6. BPD South Sulawesi and West Sulawesi UUS

7. BPD North Sumatra

8. BPD North Sumatra UUS 9. BPD East Kalimantan and North Kalimantan

10. BPD East Kalimantan and North Kalimantan UUS

11. Sharia Aceh Bank

12. BPD Bengkulu

13. BPD Central Kalimantan

14. BPD North Sulawesi and Gorontalo

15. BPD Southeast Sulawesi 16. BPD Maluku and North Maluku

17.BPD Banten

18. BPD West Nusa Tenggara Syariah

19. Bank Mega Syariah

20. Bank OCBC NISP UUS (starting 19 December 2022)

21. Bank BTPN Syariah

22. Islamic Aladin Bank

23. Bank QNB Indonesia 24. Bank Victoria International

25. Perdania Resona Bank

26. Bank IBK Indonesia

27. Bank of China Construction

28. Bank of China

29. Bank of America NA